Search found 6345 matches

by Norbert Schlenker
25 Mar 2024 12:31
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Moving money out of BMO InvestorLine is slow
Replies: 12
Views: 361

Re: Moving money out of BMO InvestorLine is slow

This is probably an AccountLink problem. I can move (settled) money either way instantaneously. Mind you, I have a margin account, not a cash account, which facilitates moving funds on settlement day, i.e. I can order cash moved from the margin account to the bank early on settlement day, because I know that (a) I have plenty of excess margin, (b) the outflow will be covered by the settling cash by end of day and (c) the bank will credit the transfer immediately even though I expect it all occurs at the end of the day anyway.

As to settlement, it's end of business on T+2. I'm not exactly sure what time that is, but I'm 100% certain it's not 9 a.m.
by Norbert Schlenker
23 Mar 2024 18:44
Forum: Financial Planning and Building Portfolios
Topic: Investing with a Ten Year Horizon under 2024's Market Valuation
Replies: 40
Views: 1247

Re: Investing with a Ten Year Horizon under 2024's Market Valuation

All animals are pattern matchers. It's an evolutionary strategy. That ripple in the long grass? 900 times it's the wind. 99 times it's a rabbit. Once it's a tiger. You want to eat? You have to play the odds.

Mind, though, if you have eating sewed up already, you don't have to play at all.

As to the graphs, you've got 120+ data points there. Should be enough to develop a trading strategy on, say, the first half or 2/3 of the sample, and see how it works out with the out of sample data. Let us know how it goes relative to buy and hold, i.e. grit your teeth and bear it.
by Norbert Schlenker
23 Mar 2024 18:24
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2024
Replies: 56
Views: 3437

Re: Housing Market 2024

randomwalker wrote: 23 Mar 2024 16:57 I would propose a tax regime that would make investment ownership of dwellings clearly built as single family family homes and condominiums so unpalatable as rental properties that owner/ landlords would put them up for sale so as to be purchase by owner occupiers.
Why?
by Norbert Schlenker
23 Mar 2024 18:05
Forum: Community Centre
Topic: Printers
Replies: 21
Views: 488

Re: Printers

Bylo Selhi wrote: 23 Mar 2024 08:08 Phun pfact: Although HP is generally credited with popularizing laser printers, the inventor of the technology was actually Canon.
The inventor of the technology was Gary Starkweather at Xerox (PARC). His work predates Canon's by half a decade AFAIK. Kudos to Canon for the engineering sufficient to turn it into a mass market product with reasonable MTBF. But Xerox deserves a mention.
Although I no longer use HP laser printers, I remain loyal to the technology.
I use an HP 2430dtn (and have a spare). Manufactured in 2006 IIRC. Hundreds of thousands of pages through it (not me, it's government surplus equipment). Unfathomably good hardware.
by Norbert Schlenker
23 Mar 2024 16:47
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2024
Replies: 56
Views: 3437

Re: Housing Market 2024

That's a hint that it's a flow number.

How do you get from there to the headline?
by Norbert Schlenker
23 Mar 2024 16:28
Forum: Retirement, Pensions and Peace of Mind
Topic: Planning Retirement for Immigrant Parents
Replies: 3
Views: 209

Re: Planning Retirement for Immigrant Parents

Your parents won't have much taxable income, but neither Canada nor Ontario will allow them to be utterly destitute. Between OAS, CPP, and GIS, and various other government payments (e.g. HST credits, etc.), they will almost certainly have an annual cash income of $15-20k each. At income levels like that, there are often other provincial benefits (medical, dental, pharma, bus passes, rental help?, ...) that aren't taxable but are definitely worth money. If you can top them up with as much as US$15k apiece, none of which would be considered taxable in Canada, they're probably going to be fine. As to 4), if they came to Canada at age 40, they might be entitled to a government pension from the country they came from. It's worth checking out. M...
by Norbert Schlenker
23 Mar 2024 14:54
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2024
Replies: 56
Views: 3437

Re: Housing Market 2024

Investors own 23.7 per cent of Ontario homes, report says By SHANE DINGMAN, the Globe and mail. A new report has found that owners of multiple properties remain the drivers of real estate purchasing in Ontario, as first-time buyers and people moving house slowed down their purchases in 2023. The story over the past decade-plus has been a surge in the number of homes purchased by multiple-property owners, according to Teranet Inc., the private company that manages property registration records in Ontario. In 2011, multiple-property owners accounted for 15.3 per cent of home purchases, but by 2022 their share of the market reached 25.2 per cent of all homes sold in the province. According to Teranet’s Market Insight Report, the multiowner sh...
by Norbert Schlenker
23 Mar 2024 00:26
Forum: Under the Mattress: Protecting Your Money
Topic: Currency Exchange
Replies: 78
Views: 6046

Re: Currency Exchange

I don't know if this has been covered up thread. If it has please forgive me. When I draw funds from my CIBC account in Malaysia, I am given a choice. "Skip conversion" and "proceed to conversipon ". I generally pick the latter, however, I have no idea what that means. You want to pull MYR from a Malaysian ATM. You have CAD at CIBC in Canada. You're being asked, by the Malaysian bank, whether you want them to do the conversion and tell CIBC how many CAD you withdrew (this is the "proceed to conversion" option) or if they should just tell CIBC that you wanted this many ringgit and have CIBC figure out what to charge you ("skip conversion"). The currency is converted either way; it's a question of whic...
by Norbert Schlenker
15 Mar 2024 13:49
Forum: Under the Mattress: Protecting Your Money
Topic: Linking bank accounts to software?
Replies: 18
Views: 1578

Re: Linking bank accounts to software?

progress is a good thing Is this progress? My plumber explained to me how he had had £10,000 stolen from his bank account via his mobile phone. At first it sounded familiar: the fraudster—posing as a BT engineer—gained illicit access to his mobile phone after persuading him to download an app. He thought he was getting a broadband speed tester and indeed that is what it appeared to be. This type of fraud is known as “upstreaming”, according to fintech types. The plumber had been in touch with BT about his broadband, so the call did not seem suspicious. Having got in, with the speed test dials doing their normal thing, the criminal was searching the phone for his bank account. Suddenly it came up on the screen in front of the alarmed eyes o...
by Norbert Schlenker
15 Mar 2024 13:15
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BCE (Symbol-BCE)
Replies: 1860
Views: 286383

Re: BCE (Symbol-BCE)

SQRT wrote: 14 Mar 2024 15:24 To get the dividend you must own it on the record date (end of day). To own it on the record date you must buy it 2 days prior.

Conversely, if you sell it 2 days prior to the record date you will not get the div as you don’t own it on the record day.

When they say x dividend date (1 day before record date). This is the first day, that if you buy it, you will not get the div, and if you sell it, you will still get the div.

Hope I got that right. I still find this a little confusing.
Prepare to get more confused, and modify all those interval calculations. T+1 is coming soon.
by Norbert Schlenker
13 Mar 2024 20:10
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Real Return Bonds
Replies: 1545
Views: 242895

Re: Real Return Bonds

Use CIRO's website.

The search facility is relatively hopeless unless you have a CUSIP/ISIN. But, as long as you have that, you'll get a good and relatively recent price/yield. E.g. a search on CA135087XQ21, the Canada 3% RRB of 2036 turns up a few small trades yesterday...
Screenshot_2024-03-13_17-09-48.png
Screenshot_2024-03-13_17-09-48.png (102.33 KiB) Viewed 202 times
by Norbert Schlenker
11 Mar 2024 17:13
Forum: Community Centre
Topic: Puzzles to keep the mind challenged
Replies: 11
Views: 487

Re: Puzzles to keep the mind challenged

On a computer, phone, or tablet, try Simon Tatham's puzzle collection. There are variations of most common newspaper and electronic puzzles, with varying levels of difficulty.

Open source. No ads. Free. Tiny. No internet connection required after installation.

https://newroman.net/puzzles/
https://apps.apple.com/us/app/simon-tat ... d622220631
https://play.google.com/store/apps/deta ... zles&pli=1
by Norbert Schlenker
24 Feb 2024 13:24
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Frothy Equity Markets
Replies: 1395
Views: 155882

Re: Frothy Equity Markets

Mmmmmm. I love the smell of market timing in the morning.
by Norbert Schlenker
24 Feb 2024 13:21
Forum: Taxing Situations
Topic: T5008 questions
Replies: 24
Views: 910

Re: T5008 questions

AFAIK, all UFile sends to CRA is total proceeds of disposition and net capital gains/losses for the year. CRA matches total proceeds against independent electronic filings from the financial institutions direct to CRA.

FWIW, I use UFile myself (since 2007) and enter no detail whatsoever. I keep track of dispositions over the course of a year in an Excel spreadsheet. The totals at the bottom of that sheet, proceeds, cost base, expenses, gain/loss get entered on a single line in UFile with the annotation "YYYY sales". I am always prepared to show CRA the details. I have never been asked.
by Norbert Schlenker
24 Feb 2024 13:13
Forum: Taxing Situations
Topic: Is withholding tax paid on rrsp withdrawal credited against installment payments?
Replies: 16
Views: 746

Re: Is withholding tax paid on rrsp withdrawal credited against installment payments?

It cannot affect current year because CRA has no knowledge of your RRIF witholding until you send in your tax return and get a NOA. It cannot affect CRA's view of what you should remit, but it does affect what you must remit. Having the financial institution withhold will (almost certainly) reduce your instalment obligation this year. Quarterly instalment obligations for an individual are the minimum of: what CRA demands on a mailed instalment notice, your actual tax liability last year less what was withheld by payers, divided by 4, and your actual tax liability this year less what will be withheld by payers, divided by 4. [Reference: https://www.canada.ca/en/revenue-agency/services/payments-cra/individual-payments/income-tax-instalments/...
by Norbert Schlenker
23 Feb 2024 10:18
Forum: Now Hear This!
Topic: Serving Canadian investors for 18 years and counting ...
Replies: 44
Views: 6664

Re: Reassurance to Members as to Financial Viability of FWF

The Management wrote: 22 Feb 2024 15:04 The biggest contributions to FWF are not money, but time. That includes the time of our moderators, administrators and management team, all volunteers.. But the biggest contribution is by the posters here, who give of their time and knowledge, to help others and to contribute to a collective learning experience. Thank you all for making FWF possible.
:thumbsup:
by Norbert Schlenker
23 Feb 2024 10:16
Forum: Taxing Situations
Topic: Claiming tax paid on excess TFSA contribution
Replies: 9
Views: 446

Re: Claiming tax paid on excess TFSA contribution

What we think of as "income tax" is levied under Part I of the Income Tax Act. "Penalties" on over-contributions or prohibited investments are taxes under Part X IIRC. They're apples and oranges.
by Norbert Schlenker
23 Feb 2024 10:07
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert's Gambit and T5008
Replies: 24
Views: 1854

Re: Norbert's Gambit and T5008

You have to report the transaction, because the one thing that CRA is definitely going to get from the financial institution is total proceeds of disposition during the year. If the total proceeds you report on your Schedule 3 are materially different than what has been directly fed to CRA, that will set off alarms.

The follow-on is that, since you've reported proceeds on the sales, you have to report the cost base too. If you don't, your capital gains are way high, as is your tax liability.

Added: To my mind, an NG trade isn't a foreign exchange gain or loss per Bylo's link. I report them as regular trades and show the gains or losses, notwithstanding the $200 de minimis exemption.
by Norbert Schlenker
22 Feb 2024 12:27
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: State of title certificate available in three months
Replies: 9
Views: 586

Re: State of title certificate available in three months

The delay is more likely to be the previous mortgagee dawdling about removing their registered charge on the title than BC Lands being swamped.
by Norbert Schlenker
20 Feb 2024 18:04
Forum: Retirement, Pensions and Peace of Mind
Topic: 401(k) income splitting?
Replies: 8
Views: 2056

Re: 401(k) income splitting?

Yes, TIAA is a special situation. As far as I know, it's actually an insurance company, so what it pays is an annuity. Cross-border retirement annuities qualify for pension splitting under the Income Tax Act.

Good luck keeping CRA sweet, but it sounds like you're golden.

Me, not so much.
by Norbert Schlenker
20 Feb 2024 15:26
Forum: Taxing Situations
Topic: Moving back to Canada - Taxation of US Taxable Brokerage Account
Replies: 6
Views: 400

Re: Moving back to Canada - Taxation of US Taxable Brokerage Account

Welcome to FWF. The following presumes you don't have a green card. 1. The first thing you need to assess - this is a projection because you wrote "move back ... in a few years" - is whether you'll be a covered expatriate at that time. If so, then you will owe capital gains tax to the US. If not, you won't. In either case, there will be negligible capital gains for Canadian purposes. (If you have funds in a 401(k) or IRA, they're subject to special taxes too if you're a covered expatriate.) The expatriation tax rules change from time to time, and have gotten more onerous over the last 20 years. By the time you pack, there's no way of knowing what the rules will be, so keep your eyes open. For most people, the initial filter on the...
by Norbert Schlenker
20 Feb 2024 14:57
Forum: Retirement, Pensions and Peace of Mind
Topic: 401(k) income splitting?
Replies: 8
Views: 2056

Re: 401(k) income splitting?

Welcome to FWF. I presume you're wondering about splitting 401(k) distributions after you resume residence in Canada. Notwithstanding the assurances that formerpatriot got from CRA on the phone back in 2019, nor the Serbinski writings, it's a gray area. CRA is absolutely clear that the taxable portion of a foreign pension, US Social Security included, is splittable on a Canadian T1. CRA is also absolutely clear that a distribution out of an IRA is not splittable. So what's the argument in favour of a 401(k) distribution being "eligible pension income" if an IRA distribution isn't? There really isn't one that I can see. The law and regulations that make IRA distributions taxable income in Canada also make 401(k) distributions taxab...
by Norbert Schlenker
15 Feb 2024 21:36
Forum: Financial News, Policy and Economics
Topic: Inflation
Replies: 1010
Views: 155694

Re: Inflation

Inflation is a problem everywhere.

Taken at a bus stop in southern Mexico. (The bus operators are complaining because fare increases aren't allowed; see the bottom row.)
mexico-inflation.jpg
mexico-inflation.jpg (53.16 KiB) Viewed 1698 times
From personal observation, tomatoes and juice oranges cost 3x what they did in 2018. Cheap five years ago, but not any more.

It's not obvious how the locals cope. Wages haven't doubled.
by Norbert Schlenker
30 Jan 2024 16:42
Forum: Under the Mattress: Protecting Your Money
Topic: CDIC advertising
Replies: 11
Views: 782

Re: CDIC advertising

I'm with active here, even if it amounts to peanuts. The most recent one I saw was at the halftime of last weekend's NFC championship. Does CDIC truly believe that there's much of a target audience among such viewers? To be fair, I don't often watch sports on TV, so perhaps I should give CDIC credit for identifying a demographic that needs financial help. As best I could tell, half the ads during the average football or hockey game these days are for online gambling.
by Norbert Schlenker
30 Jan 2024 16:28
Forum: Taxing Situations
Topic: Completing Form T2125 for Day Trading Option Spreads
Replies: 9
Views: 565

Re: Completing Form T2125 for Day Trading Option Spreads

professional tax preparer?
I wouldn't bother. The dollar amounts are large but it's a simple business.
Cash or accrual?
Tick accrual. Cash accounting is a red flag. Accrual is also more consistent with the proposed inventory accounting signaled by declaring cost of goods sold.

The other thing you should tick is Yes for last year of business in the identification section. It doesn't bind your son in any way, and it would buttress a claim of "I gave day trading a whirl and discovered I was crap at it, so I quit" if CRA happens to ask.

P.S. Tell him he needs to keep every confirm. For years.